First Citizens Bank announced that the Specialty Finance unit of its Asset-Based Lending (ABL) business upsized by $100 million its existing financing for WhiteHawk Fund IV and WhiteHawk Evergreen Fund. The latest financing brings the total facility size to $300 million.

Both funds are managed by WhiteHawk Capital Partners, which sources and structures asset-based loans for private and public companies. These credit facilities leverage the funds' existing portfolios and provide capital for future growth.

“By right-sizing the credit facilities, we’ve aligned our capital with the current pace of deployment and portfolio needs, strengthening our ability to execute our direct lending and asset-based strategy,” stated Robert Louzan, Managing Partner of WhiteHawk Capital Partners. " We are excited to continue our relationship with First Citizens Bank and appreciate their expertise and commitment in organizing the expanded financing for these funds."

“WhiteHawk has a strong track record in providing asset-based financing to select borrowers,” said Chris Esposito, Managing Director and Group Head for First Citizens’ Asset-Based Lending business. “We were pleased to collaborate again and right-size these facilities to best support WhiteHawk’s objectives while providing flexibility for future opportunities.”